Marketing Chapter 1 & 2 Review

Disposable income is the money left after paying for basic living necessities such as goods, shelter, and clothing.

• True

• False

Dividing segments based on the sports they play is an example of behavioral segmentation.

• True

• False

Geographics and psychographics are types of segmentation.

• True

• False

Hershey's offers "Hershey's Kisses" in special holiday colors.  This is a type of behavioral segmentation.

• True

• False

An example of place utility would be selling camping gear and clothing through catalogs mailed to people who belong to nature organizations.

• True

• False

Time Utility involves having a product available at a certain time of year or day.

• True

• False

True or False?  The 20 in the 80/20 rule represents 20 percent of a company's sales.

• True

• False

Planning is the most important element of the "4 P's of Marketing".

• True

• False

Mass marketing is using a single strategy to reach all customers. 

• True

• False

True or False?  All people who share similar needs and wants and who have the ability to purchase a given product are called a market.

• True

• False